IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD - Free Report) by 69.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,859 shares of the construction company's stock after selling 89,487 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned approximately 0.06% of Great Lakes Dredge & Dock worth $450,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC bought a new position in shares of Great Lakes Dredge & Dock during the fourth quarter worth approximately $33,000. R Squared Ltd bought a new position in Great Lakes Dredge & Dock during the 4th quarter worth $69,000. Semanteon Capital Management LP acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $130,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Great Lakes Dredge & Dock during the fourth quarter worth $132,000. Finally, Passumpsic Savings Bank bought a new stake in shares of Great Lakes Dredge & Dock in the fourth quarter valued at about $135,000. Institutional investors own 89.11% of the company's stock.
Great Lakes Dredge & Dock Stock Performance
NASDAQ:GLDD traded up $0.17 during mid-day trading on Tuesday, reaching $8.87. 225,551 shares of the company's stock were exchanged, compared to its average volume of 444,549. Great Lakes Dredge & Dock Co. has a one year low of $6.55 and a one year high of $12.89. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.01 and a current ratio of 1.21. The business's fifty day simple moving average is $9.64 and its two-hundred day simple moving average is $10.97. The firm has a market capitalization of $597.16 million, a PE ratio of 10.52, a price-to-earnings-growth ratio of 1.06 and a beta of 1.21.
Great Lakes Dredge & Dock (NASDAQ:GLDD - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.23 by $0.06. Great Lakes Dredge & Dock had a net margin of 7.51% and a return on equity of 13.72%. The company had revenue of $202.77 million for the quarter, compared to analysts' expectations of $211.20 million. Analysts anticipate that Great Lakes Dredge & Dock Co. will post 0.69 earnings per share for the current fiscal year.
Great Lakes Dredge & Dock announced that its board has initiated a stock buyback program on Friday, March 14th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 8.6% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.
Insiders Place Their Bets
In other news, SVP Christopher Gunsten acquired 3,875 shares of Great Lakes Dredge & Dock stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $7.75 per share, for a total transaction of $30,031.25. Following the completion of the purchase, the senior vice president now directly owns 61,532 shares of the company's stock, valued at approximately $476,873. This represents a 6.72 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.20% of the company's stock.
Great Lakes Dredge & Dock Company Profile
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Free Report)
Great Lakes Dredge & Dock Corp. engages in the provision of dredging services. Its projects include channel and port maintenance, channel deepening and port expansion, coastal protection and restoration, as well as land reclamation. The company was founded by William A. Lydon and Frederick C. Drews in 1890 and is headquartered in Houston, TX.
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